Frasers Group

Majority owner Frasers has decided not to proceed with the planned relocation of Shared Services from Metzingen, preserving more than 100 jobs. The consolidations in Portugal or Turkey had been envisaged as part of the Claim5 Touchdown strategy program. According to the works council, the decision was taken jointly with the executive board and Frasers and is surprising despite Hugo Boss’s critical business situation and Frasers’ tough investor track record. » More on wiwo.de

The British Frasers Group has reached 50.08 percent of HUGO BOSS shares through purchases and thus holds an absolute majority. Frasers can now pass ordinary shareholders’ resolutions on its own; the company had pursued this goal after a takeover bid narrowly failed. In the course of the change of control, supervisory board chairman Stephan Sturm announced his resignation. HUGO BOSS had recently suffered from weak demand in key markets and a corporate restructuring, with sales and earnings declining significantly. » More on finanzen.net

The British Frasers Group has increased its stake in HUGO BOSS to 50.08 percent, thereby achieving an absolute majority. This allows Frasers to pass ordinary resolutions alone at shareholder meetings. The takeover follows a narrowly failed offer and the purchase of additional shares; in the course of the dispute, supervisory board chairman Stephan Sturm announced his resignation. HUGO BOSS is currently struggling with weak demand in key markets and declining sales and earnings. » More on finanzen.net